A former British derivatives trader has been convicted on conspiracy charges and sentenced to 14 years in prison for his role in the LIBOR market-manipulation scandal.

A jury has found Tom Hayes, 35, who worked as a derivatives trader at both UBS AG and Citigroup Inc., guilty on eight counts of conspiracy to defraud, the U.K.’s Serious Fraud Office (SFO) announced in a statement. Hayes was charged in connection with allegations that he conspired with numerous traders to procure, or make submissions, into the process of setting the Japanese yen LIBOR benchmark that was false or misleading in order to benefit his trading positions.

Following his conviction, Hayes was sentenced to nine and a half years in prison for each of the first four counts, to run concurrently, and to four and a half years for the other four counts, also to run concurrently, for a total of 14 years.

“The jury was sure that in his admitted manipulation of LIBOR, Hayes was indeed dishonest. The verdicts underline the point that bankers are subject to the same standards of honesty as the rest of us,” says David Green, director of the SFO, in a statement. “This brings to an end one strand of the SFO’s continuing Libor investigation. One senior banker previously pleaded guilty and another 11 individuals await their trial.”

The trial of some of Hayes’s alleged co-conspirators begins on Sept. 21 in the U.K. In addition, the trial of individuals charged with the manipulation of the U.S. dollar LIBOR begins on Jan. 11, 2016.

“The seriousness of the offence is hard to overstate,” says Justice Cooke, who oversaw Hayes’s trial, in his sentencing remarks. “A message has been sent out to the world of banking accordingly [that] probity and honesty are essential.”